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An INTERESTing Advantage...an answer to a taxpayer |
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Written by Anton K Neff
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Tuesday, 14 March 2006 22:58 |
A very good question was asked of me this weekend. This gentleman read the article that appeared in the Spencer Evening World last week highlighting our county's Board of Finance and Treasurer's report on interest earnings. The report was good news as interest rates have been on the rise and as a result, our interest revenues have increased.
His Question:
How does the county make $300,000 in interest for the year when we would have to have about $8 or $9 Million stashed away somewhere?
The answer:
The County Treasurer has many sources of money that contribute to the overall investment amount. Besides the source we normally think about--county government--a significantly larger source is the school corporation. Whether it is money collected from you paying your property tax bill, income tax monies distributed from the state, court fees, etc., they all are sources of money for investing. As long as all money is accounted for by fund and bills are being paid, the Treasurer can determine how much, where, and for how long money can be invested.
I appreciate this taxpayer's question. If you have a question, feel free to ask! |
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2006 Council Leadership Announced |
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Written by Anton K Neff
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Tuesday, 17 January 2006 23:22 |
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At the first Council meeting of the year, the Council nominated and elected Patty Edwards to continue serving as President and Vera Hughes as Vice-President. Meetings will continue to be held on the second Monday of each month at 7:00pm at the courthouse. Agendas, etc., will be updated regularly on this website. Anton Neff will continue to serve as the Council's appointment to the Plan Commission and Patty Steward will continue to serve as the appointment to the Board of Zoning Appeals. |
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County Budget Hearings--What do they mean for you? |
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Written by Anton K Neff
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Sunday, 16 October 2005 22:14 |
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You are invited! County budget hearings are scheduled for September 7th, 8th, and 9th, starting at 8am and continuing until recessed. Various components to the county budget will be discussed and the public is welcome to make comment. Folks can come and go as they chose, or stay the entire time. This is a great opportunity to meet your local public officials and see them in action. The budget is important because the county is taking the money it collects in property tax, income tax, and miscellaneous revenue sources and determines where that money can be spent. If anyone has any questions about any portion of the budget, or if one wants to see the budget requests, please feel free to contact me. In an archived posting on this website, you can view how much of each dollar you spend in property tax goes where--check it out. |
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Lawsuits, Lawsuits, Lawsuits... |
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Written by Anton K Neff
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Friday, 27 May 2005 13:53 |
Where does one begin on this issue? As one reads the newspaper or hears something on the street, you can't help knowing that our county has been strapped with legal issues. There is no question that it has cost us (the taxpayers) money.
Consider the source and consider the root of the problem. What is the common cause of every legal action our county has faced in the last 2-3 years and who has benefitted from this? It certainly isn't the county government and absolutely not the taxpayer or Owen County citizens.
Moving forward, our current elected officials need to continue doing what they have been doing...standing up against |
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What would you do with CEDIT? |
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Written by Anton K Neff
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Wednesday, 18 May 2005 10:16 |
What is CEDIT anyway? It is the County Economic Development Income Tax. Currently, the CEDIT tax is .25% on your income. For Owen County's median household income of $40,000, this equals $100/year. The money raised by this tax goes to our county's Economic Development Tax Fund. Money from this fund can be used to pay for various county operations, debt, projects, equipment, etc.
With recent changes in Indiana's state laws concerning the elimination of the Inventory Tax, counties will see a shortfall in revenue. The shortfall varies by county. To help counties offset this loss of revenue, the County Council is now able to consider raising the tax rate. The maximum increase is .25% but the actual amount of the increase cannot exceed the amount of money lost by the elimination of the Inventory Tax.
At the Council's next meeting on May 23rd, discussion on this issue will be made and input is needed. One important figure needed is the amount of revenue lost by elimination of the Inventory Tax. This, along with your input, will help the County Council decide to keep the rate as is, or raise it to an appropriate amount. Please contact me with your opinions. |
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